The head of India's premier technical education body sees a grave future for engineering and MBA students on the job front. "Days for big recruitment sectors such as IT and BPO industry are over and there would be no mass hiring industries in India in the near future," All India Council for Technical Education (AICTE) Chairman Anil Sahasrabudhe told a TV channel in an interview.

The job scenario in large-scale industries, according to Sahasrabhudhe, is stagnating but small and medium enterprises hold out hope.

IT and BPO have seen a steep decline in job offers. According to a survey, the IT sector registered a 32 per cent decline in job offers followed by BPO sector at 30 per cent.

Sahasrabudhe said jobs will now be generated outside the main sectors such as ancillary sectors and startups.

The AICTE chief also has a word of caution for the pharma sector, dismissing the recent surge in education in the sector as just a bubble that may "burst in the next two years like MBA and B-tech courses".

"Since almost all the seats in pharma were getting filled, people thought that there is a big demand in that sector and therefore they applied for more colleges this year. However, these will also have the same fate as management and engineering in the next one or two years," he said.

In 2016-17, more than half of MBA graduates could not get hired in campus placements, as per AICTE data. Last year, a study by employability assessment company, Aspiring Minds, claimed that 95 per cent of engineers in the country were not fit for jobs.

Industry veterans have also warned about unskilled Indian youth. Recently, CP Gurnani, CEO & MD of Tech Mahindra said that 94 per cent of engineering graduated were not fit for hiring, while chairman of Manipal Global Education, TV Mohandas Pai claimed that the country has 10 crore people in the 21-35 age-group with bad skills, who are unsuited for the economy.